I have been a holder of this stock for the past 8 months and intent to hold for at least two years to gain the maximum CGT relief as its AIM listed.

I have topped up my holding recently as TPA looks well undervalued to me at the current price of 19.5p.

Reasons as follows:

2004 results (due in March) should show 85% growth on 2003 - EPS of 1.3p. This will give a historic PE of 15 at the current price.

Estimates for 2005 indicate a further 46% growth in earnings to 1.9p which could, IMO, be conservative considering the impact of the big contracts signed in 2004 are yet to fully kick in. The PE estimate is only 10.26 for 2005 - way too low IMO for a growth company.

2006 estimates are for 2.4p of EPS (PE 8.1) - this is why I am holding for at least 2 years - the shares should double to 40p if things stay on track and CGT will be only 5 or 10% with the taper relief.

The earnings have high visibility and should be rated as such - most contracts are signed for 3 or 5 years plus with a good chance of repeat business, contract extensions etc.

Strong cash generation paying off debt for aquisitions.

Contracts with big players such as Virgin, Matalan, BAA, BMI Healthcare and Dixons.

The technology division has the potential to significantly increase earnings which have not been considered in the earnings estimates.

TripleArc is now the 4th biggest print management provder in the UK and still growing - maybe takeover potential there.

Risks:

UK economy might go down hill adversely affecting TPA margins/contracts.
Shares are fairly illiquid and volatile.
Margins get squeezed.
Debt fairly high but being rapidly repaid.
Increased competition.

Overall I feel comfortable to hold a high percentage of my portfolio in this company - my two year timeframe should hopefully see the shares double in value baring unforseen disasters.

Website : http://www.triplearcplc.com/

Shareshark

See it's really on the up now.

Now thats what you call a Director BUY !

Time to make a decisive move forwards. Very few sellers out there.

Even cheaper now ! Maybe have to add some very soon.

Bloody hell ! Market cap at 14M with 48M turnover !!!! If the profit warning drops the TO to 35 it still has to be a screaming BUY.

Nice rise the last couple of days.

Interesting trades and a very nice rise. Maybe an indication that any overhang has now been cleared. looks cheap compaing market cap to turnover.

Good to see a sharp move higher today.

A great day for TPA and I expect a few more of these as we move closer to the figures being released. It has dropped from 17p to 7p following the profit warning which in reality was a bit overdone.

The early bird may catch the worm.

Overdone for certain now. i see Aviva picked up 5M cheap shares Friday.

Broker Recommendations - Wednesday 5th October 2005, 10:50 am

Altium Securities has upgraded TripleArc (LSE: TPA.L - news) to buy from hold.

In at 3.38 pence...these look likely to double from these levels in the very near future.

Facts we know:

New Finance Director bought 800,000 shares at 7 pence each on 14 July 2005
Aviva bought 4 million shares at around 7 pence each on 14 July 2005
Aviva bought another 5 million shares at 3.50 pence each on 30 September 2005
Altium Securities has upgraded TripleArc (LSE: TPA.L - news) to buy from hold.
on 05 October 2005.

Broker Upgrade Link:

http://uk.biz.yahoo.com/051005/336/ftpjv.html

Something brewing....mark up on the bid to 3.25 pence....in the blue already.

http://www.printweek.com/news/index.cfm?fuseaction=article&UID=ae9ca122-0f31-4481-8f60-226bc46b5c3c


TripleArc stays focused on hitting its targets
Lauretta Roberts, 06/10/2005
TripleArc chief executive Jason Cromack says that if the group hits its predicted earnings for 2005 its faltering share price will recover.


Shares in the AIM-listed print management group took a knock last week when it announced that financial reporting errors would force it to restate its 2004 earnings to 3.5m from 4.5m, and that earnings for this year would be around half the revised 2004 figure.

Following that announcement and the subsequent publication of its interim results last Friday (30 September), its shares slumped to around 3.5p. The year high is 23p.

Cromack said Friday's price slump was down to one fund manager who "dropped all his shares in one go".
"How do we recover [the share price]? We hit our number. It will make life a lot easier," said Cromack.

He added that the group had the support of its largest shareholder, Morleys, which had just taken a further 5m shares. "They are fully supportive of the growth story," said Cromack.

"We are still profitable, we are still generating cash and we have the support of our shareholders and the support of the bank. What we have to do now is go on and hit our numbers," he said.

In the six months to 30 June 2005, the group posted revenues of 30.07m (2004: 24.03m) and earnings before interest, tax and amortisation (EBITA) of 690,000 (2004: 2.27m). Gross profit was up by more than 4m at 10.1m (2004: 6.03m).

Cromack said that 40% of the group's revenue was contracted and that 10m of new annualised contracted revenue had been signed and implemented in the past 12 months.

"Why did we buy Access Plus [the print manager acquired in 2003]? To give us the scale and infrastructure to go out and win print management contracts and that's what we did last year," said Cromack.

MMs took the pee today by dropping it on that volume !

Nobody interested in this recovery stock then ?

Big volume today ! Someone have news ?